Lake Forest Graduate School Of Management
- Assets
- $15.5m
- Revenue
- $8.0m
- Investments
- $0.0
- Employees
- 154
- Location
- Lake Forest, IL
- Founding
- 03/1969
- Data as of
- 06/2023
- EIN
- 23-7013253
Organization Overview
Lake Forest Graduate School Of Management is located in Lake Forest, IL. The organization was established in 1969. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 06/2023, Lake Forest Graduate School Of Management employed 154 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Forest Graduate School Of Management is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Lake Forest Graduate School Of Management generated $8.0m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $9.3m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT'S MISSION IS TO BRING THE REAL WORLD TO BUSINESS EDUCATION AND LEADERSHIP DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAKE FOREST CENTER FOR LEADERSHIP (C4L) IS A PART OF LAKE FOREST GRADUATE SCHOOL WHICH PROVIDES INTERRELATED FORMAL CLASSROOM BUSINESS EDUCATION INSTRUCTION IN THE FORM OF CERTIFICATE PROGRAMS AND SHORT-TERM WORKSHOPS IN SUBJECTS SUCH AS STRATEGIC EXECUTION, FINANCE, COMMUNICATION, LEADERSHIP DEVELOPMENT, NEGOTIATIONS, PROJECT MANAGEMENT, MANAGING CHANGE, AND SALES. C4L PROVIDES THESE PROGRAMS TO CORPORATIONS, PRIMARILY IN THE CHICAGO AREA. C4L DEVELOPS CURRICULA, WHICH WHEN DELIVERED THROUGH FORMAL CLASSROOM INSTRUCTION, ENABLE EMPLOYEES OF THOSE ORGANIZATIONS TO BROADEN THEIR BUSINESS KNOWLEDGE, AND TO HELP THEM MOVE FROM INDIVIDUAL CONTRIBUTOR TO ORGANIZATIONAL CONTRIBUTORS. THIS IS ACCOMPLISHED BY TAILORING CURRICULA, CONTENT, AND PROGRAMS TO MEET SPECIFIC NEEDS OF THE EMPLOYEES OF THE CORPORATIONS.
LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT COMBINES TRADITIONAL AND LEADING-EDGE ACADEMICS WITH A PRACTITIONER FACULTY THAT PROVIDES A DYNAMIC CONNECTION WITH THE REAL WORLD OF BUSINESS. THIS DISTINCTIVE APPROACH RESPONDS DIRECTLY TO THE RESULTS-ORIENTED DEMANDS OF TODAY'S BUSINESS ENVIRONMENT WHILE SATISFYING ACADEMIC RIGOR. OUR FACULTY MEMBERS OFFER DIVERSE PERSPECTIVES AND REPRESENT A WIDE ARRAY OF ORGANIZATIONS, INDUSTRIES, AND FUNCTIONS. THEY BLEND SOLID BUSINESS THEORY WITH PRACTICAL EXPERIENCE, SO STUDENTS RECEIVE A HANDS-ON EDUCATION THAT IS UNMATCHED. ALL OF OUR FACULTY MEMBERS HAVE EXTENSIVE PRACTICAL EXPERIENCE IN THE SUBJECT AREAS THEY TEACH. BUILDING ON THE SKILLS STUDENTS BRING TO THE PROGRAM, OUR COURSES SHARPEN THEIR ANALYTICAL ABILITIES BY COMBINING COURSE WORK WITH DAY-TO-DAY PROFESSIONAL EXPERIENCES. OUR GENERAL MBA PROGRAM OFFERS A BROAD KNOWLEDGE BASE IN EVERY AREA NEEDED FOR SUCCESS IN TODAY'S BUSINESS WORLD. INTERACTIVE AND PERSONAL, OUR FACULTY MEMBERS INCORPORATE A WIDE RANGE OF TEACHING METHODOLOGIES, INCLUDING FACILITATED DISCUSSION ON ISSUES AND RESPONSIBILITIES FACING MANAGEMENT TODAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee / Vice Board Chair | OfficerTrustee | 1 | $0 |
Name Not Listed President & CEO | OfficerTrustee | 38 | $366,580 |
Name Not Listed Trustee / Board Chair / Faculty | OfficerTrustee | 1 | $5,100 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kelly Scott & Madison Inc Marketing | 6/29/18 | $303,283 |
Marketing Partnerships International Marketing | 6/29/18 | $201,526 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $676,729 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $676,729 |
| Total Program Service Revenue | $7,049,803 |
| Investment income | $232,093 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,958,625 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $448,231 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,022,993 |
| Compensation of current officers, directors, key employees. | $531,275 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,146,995 |
| Pension plan accruals and contributions | $61,199 |
| Other employee benefits | $416,481 |
| Payroll taxes | $410,772 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,818 |
| Fees for services: Accounting | $128,117 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $28,010 |
| Fees for services: Other | $0 |
| Advertising and promotion | $163,804 |
| Office expenses | $65,891 |
| Information technology | $136,167 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,549 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,959 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $441,219 |
| Insurance | $62,568 |
| All other expenses | $0 |
| Total functional expenses | $9,311,440 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $543,116 |
| Savings and temporary cash investments | $246,141 |
| Pledges and grants receivable | $664,933 |
| Accounts receivable, net | $1,264,133 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $144,418 |
| Net Land, buildings, and equipment | $5,712,532 |
| Investments—publicly traded securities | $6,941,668 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,516,941 |
| Accounts payable and accrued expenses | $865,637 |
| Grants payable | $0 |
| Deferred revenue | $253,603 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,119,240 |
| Net assets without donor restrictions | $13,911,751 |
| Net assets with donor restrictions | $485,950 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $15,516,941 |